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AML / KYC
AUSTRAC Offers Update on Work to Enhance Reporting System
By Editors | 13/04/2022
The IFTI-E schema version 2.0 will be finalised in the next few months. This will be used to enable the upload of IFTI-E reports through a new API and user interface.
Australia Proposes Regulatory Changes to Make M&A More Efficient
By Sanday Chongo Kabange | 12/04/2022
The consultation seeks feedback on whether schemes of arrangement which relate to changes in corporate control should be regulated by the Takeovers Panel rather than the Court.
Securities / Derivatives
ASIC Extends Product Intervention Order Targeting CFDs
By Editors | 12/04/2022
Since the product intervention order took effect in March 2021, ASIC has observed few losses, margin close-outs, and negative balance occurrences affecting retail client.
AML / KYC
AUSTRAC Issues Guidance on Engaging AML/CTF Advisers
By Editors | 11/04/2022
Without endorsing any AML/CTF adviser, AUSTRAC says it recognises the benefits and efficiencies that can be gained by firms from engaging third party consultants.
Fintech / Regtech
APRA to Set Out Expectations for FIs Dealing in Digital Assets
By Editors | 11/04/2022
APRA will not be introducing new regulatory requirements for FIs or attempting to hinder innovation. Rather, it will be asking them to closely assess and monitor new operational risks.
Enforcement
Westpac Super Trustee Fined for Overcharging Commissions
By Editors | 10/04/2022
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
ESG / Sustainability
Smaller Super Funds Face Bigger Sustainability Challenges: APRA
By Editors | 10/04/2022
On the whole, assets in small and medium sized super funds are declining. Large super funds can more easily spread their costs over a wider membership base.
Securities / Derivatives
ASX Proposes to Enhance Rules for SPPs, Material Placements
By Editors | 09/04/2022
ASX is seeking views on two alternative bases proposed for conducting a scale-back on security purchase plans, and proposes new disclosure requirements for material placements.
Enforcement
ASIC Charges Firm for Offering Crypto Loans Without Credit Licence
By Sanday Chongo Kabange | 09/04/2022
ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.
Capital / Liquidity
APRA Consults on Interim Capital Reporting Standards
By Editors | 08/04/2022
APRA says it has made changes to better meet data needs, simplify reporting requirements, and reduce the need for future data collections and ad hoc requests.
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